Buying a house

[The Moose]

Right - trying to buy my first house and trying to sort out the finer details of finances etc.

What will I be spending?

- what I actually pay for the property
- stamp duty
- survey fees
- any other mortgage lenders fees

Actually moving my st isn't going to cost anything - got that covered.

What else have I missed??

Cheers

The Moose

[Fats25]

Solicitor/conveyancer

[Thom987]

Bottle of champagne, so when you move in, you can say

Cheers
The Moose

[Scott330ci]

Hello "The Moose"

Hopefully I will be done next week but I can only comment as a first time buyer on a property purchase of £187,500.

No stamp Duty as first time buyers.

Solicitors fees are around the £1250 mark which was a fixed fee when we commenced.

No mortgage arrangement fee due to a "special" deal the halifax had at the time due to being a first time buyer and reward account holders.

Surveyors fee which ranged from £355+. We used the Halifax's basic surveying package due to the house being covered by the NHBC due to the age.

We have luckily receieved our surveying fee back from the Halifax as part of their deal and £400 cashback.

So overall, deposit £18,750. Surveying fee £355. Conveyancing £1250. House insurance also must commence from date of exchange which is free.

£20,355, of which I will get £755 back.

One of the 'rents can buy the champers though. I am skint.

Hope this helps.

Oh and £45 for a Van if you add everything.

[CaptainSlow]

Those solicitors fees sound quite high.

[Scott330ci]

CaptainSlow said:

Those solicitors fees sound quite high.

£150 dearer than the cheapest of the 9 I called at the time but he has been worth his weight in Gold and recommended by many friends.

[paolow]

Dont forget some banks like to be a months mgge 'in hand' so your first payment may actually be double!

[shouldbworking]

I'm just going through this for the first time - this list I found ties up with my experience so far.

http://www.home.co.uk/guides/buying/one_off_costs....

[Simpo Two]

Scott330ci said:

No stamp Duty as first time buyers.

Can it be that easy? You could sell your house and rent for a month, then buy back in for £xxxK cash - voila, FTB and no stamp duty.

[shouldbworking]

Simpo Two said:

Can it be that easy? You could sell your house and rent for a month, then buy back in for £xxxK cash - voila, FTB and no stamp duty.

I'd wager that the question 'have you ever owned a property, either in the UK or abroad?' that you get asked by the conveyancers is related to this

[Simpo Two]

Change name by deed poll to Nobby Nohouse. That should do it

[Daisy Duke]

Simpo Two said:

Change name by deed poll to Nobby Nohouse. That should do it

Scott330ci said:

No stamp Duty as first time buyers.

As long as the purchase price isn't greater than ₤250k.

[Jasandjules]

Costs of hiring a van or removals company.